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On January 9, 2026, Ripple submitted a formal letter to the SEC’s Crypto Task Force, outlining its vision for a legally grounded digital asset market structure. This policy push comes as major crypto legislation, specifically the Digital Asset Market Clarity Act of 2025 (CLARITY Act), moves through the U.S. Senate in early 2026.
Key Highlights of Ripple’s Letter
Rejection of "Decentralization" as a Legal Standard: Ripple argued that decentralization is a subjective, fluid continuum that creates "intolerable uncertainty" for legal classification.Focus on Enforceable Rights: The company urged the SEC to adopt a framework based on legal rights and obligations rather than "passive economic interest" or "expectations of profit".Secondary Market Treatment: Ripple maintained that once a primary distribution (like an ICO) is complete, the underlying asset should not be permanently treated as a security in secondary market trades where no privity exists.Objective Definition of Control: The letter suggested the SEC should only exercise jurisdiction if an issuer retains unilateral "control" over network rules or token code, which must be objectively defined.
Regulatory and Legislative Context in 2026
CLARITY Act Status: The CLARITY Act (H.R. 3633) passed the House in July 2025 and is undergoing Senate committee markups as of January 2026. It seeks to classify most mature cryptocurrencies as commodities under CFTC oversight.Ripple’s Legal Standing: Ripple executives recently clarified that while they support the CLARITY Act for industry-wide clarity, XRP already possesses unique legal status as a non-security in the U.S. due to finalized court rulings from 2023 and 2025.SEC Task Force Leadership: The Crypto Task Force, currently led by Commissioner Hester Peirce, is tasked with creating a "sensible regulatory path" that distinguishes securities from non-securities.
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